In the 2012-13 fiscal year the country's 23 life insurance companies faced a decline in premium income of Rs.1,07,010 crore. It was formerly in the 2011-12 fiscal year Rs 1,14,232 crore was increased. Thus in the assessment financial year, the new premium income of life insurance companies faced a decline of 6.3 percent. In Life insurance sector, the public sector company LIC leads in first place. In Last fiscal year, the company's new premium income faced 6.5 percent decline and the amount decreased from 81,514 million to 76,245 million rupees. However, in current fiscal year LIC's new premium income will expect 15 percent growth, the company's Managing Director Mr.Sarkar told.
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